In today’s landscape, where it can be challenging to purchase a home, it is critical for bankers to better understand their communities – and the changes taking place in those communities. It’s critical not only for those hoping to affordably purchase a new home, but good business for banks. Understanding local needs and fostering trust are essential for building lasting relationships with your customers. These strategies also drive customer financial stability and growth and are critical as banks enter new markets and build responsive products.   

A client came to The Neighborhood Developers (TND) in Chelsea, Massachusetts 12 years ago to get help applying for SNAP benefits. In the years that followed, the client returned to the NeighborWorks network organization again and again: First to visit after they had gotten a job earning $13 an hour. Then for a visit to meet with a financial coach. Then to attend a workshop on creating a household budget.